The post Pi Network Coin Pump By 50% – Key Reason Behind The Rally appeared first on Coinpedia Fintech News
After months of silence and a sharp price drop, Pi Coin is suddenly back in the spotlight. In just one week, it has jumped over 50%, with a 24% gain in the last 24 hours alone, making it one of the top-performing coins of the week. So, what driving the Pi coin price up, lets find this out?
Why Pi Coin Price Pumped
Pi Network coin, known for its “tap to earn” mining system, has finally broken out of its long bearish trend. The token is now trading near $0.75, with trading volume surging to $474 million, up 194% in just 24 hours. That’s a huge jump and a sign that investors are showing interest again.
One of the biggest reasons for the price spike is the Pi Network’s latest tech rollout — Satellite Mode. This new feature allows users to access the Pi Network, mine coins, and use apps without needing the internet.
Yes, that’s right, no Wi-Fi, no 4G, just satellite support.
Another reason Pi Coin’s price is going up is that the Fed recently lowered interest rates to 2.4% to help control inflation. When rates are low, people often look for better ways to grow their money, and that’s where crypto like Pi Coin can gain more attention.
Key System Upgrades
On top of that, Pi Network has launched two important user-friendly updates:
Fast KYC Process: Now, users can complete identity verification in under 5 minutes.
One-Tap Wallet Access: New users can activate their wallets instantly and start using the Pi ecosystem right away.
Pi Coin Analysis Aim $1
Looking at the Pi Coin’s 4-hour price chart, it shows the formation of a strong bullish pattern. Meanwhile, technical indicators suggest that the RSI has jumped to 75, showing strong buying pressure. Also, the MACD has formed a positive signal, backing the idea that Pi may rise further.
Right now, Pi is holding strong above the $0.70 support level. If it keeps moving up and breaks past $0.82, the next target could be $1.